As many of you know, I’ve been in several startup entrepreneurial ventures. One of the biggest problems I’ve faced (for a variety of reasons) is when customers don’t pay on time. We’ve all had the experience of running our businesses on a frayed shoestring. And that shoestring frays even faster when a customer fails to [...]
Read More accounting, financing, staffingIt’s accounting 101, the standard rules of figuring out how your business is doing: You enter your revenue, subtract expenses, and the rest is profit or loss. These are the rules known as GAAP, or generally accepted accounting principles. Now, one entrepreneur says you’re wrong to use GAAP to manage your business. Here’s why: Mike [...]
Read More accounting, Entrepreneurship, finance